23rd Apr 2021. 7.33am
Morning Report – Friday 23rd April
FTSE to open at 6,905 (-33 pts)
The ECB helped to sooth stock market yesterday as it dismissed talk of tapering its bond-buying programme.
Speaking at a press conference which followed yesterday’s rate decision, ECB president, Christine Lagarde said: “We still have a long way to go for the economy to become sustainable…we have to cross the bridge of the pandemic and be able to walk on solid ground.”
The central bank kept its deposit rate at -0.5% and reiterated its stance that its €1.85tn bond-buying programme could expanded depending on the rate of the Eurozone’s economic recovery.
|S&P 500||-0.92%||Bearish for UK stocks|
|Hang Seng||+0.65%||Bullish for UK stocks|
|Gold||-0.03%||Neutral for UK stocks|
|AUD/JPY||+0.33%||Bullish for UK stocks|
|US 10yr Yield||+1.60%||Bearish for UK stocks|
The FTSE futures printed its narrowest daily range in over seven sessions yesterday. This is significant because small range days like yesterday’s are usually followed by expansive large range days…
With the market trading just beneath resistance again, we may see an increase in selling pressure as we head into the weekend.
|Xps Pensions (XPS)|
|UK Economic Announcements|
|(00:01) GFK Consumer Confidence|
|(07:00) Retail Sales|
|International Economic Announcements|
|(15:00) New Homes Sales (US)|
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